How can I protect my home's value?
The basic concept for your home's value is what price are buyers willing to pay for your home with the current market conditions. It sounds simple but there are many factors that effect this formula. To help you protect your home's value, concentrate on the things you have some control over. For example, you have the ability to effect the buyers, their willingness, and your home, but can not effect market conditions. So how do you effect buyers, their willingness, or your home when protecting your home's value? Here are some examples that can improve your home's value.
Buyers: There are many things you can do to positively effect buyers. Present your home in a way that will be appealing to the largest number of buyers. The more buyers that feel your home is at the top of their list, the higher the value your home has. In most cases, a well presented, prevalent, and engaging home, will attract more buyers than a home presented with a specialized charm. Depersonalize your home, and allow buyers to imagine living in your home.
Willingness: Once a buyer have decided on their favorite homes, their willingness to make an offer your home over another home can be an emotional decision for them. Buyers are taking a risk by by writing an offer on your home. Help them to feel welcomed and appreciated even before they write an offer. Something as simple as limiting showings to a narrow window of time can send a message to the buyers that you might be harder to work with during the closing that other sellers. There are many simple things that can help encourage a buyers willingness to purchase your home.
Your Home: Buyers are not expecting your home to be perfect. Often times buyers are already thinking about what changes they will do to make your home theirs before the submit an offer. However presenting your home the best possible way is always a good way to protect your homes value. An inviting and warm home will emotionally connect better with buyers and emotions are a big part of the buying decision.
What are buyers looking for?
Buyers are of course looking for a house that feels like home. The more someone can feel at home the easier it is for them to see their family living there. They want a home that feels right. But buyers are likely to be cautious with such an emotional decision. As a seller, you understand caution and apprehension. After all you are opening your home up for all to see and critique. Buyers may tend to be more apprehensive about the unknown. Is this the right home? Should they keep looking? Is there anything they don't know about the home that they feel they should? Addressing a buyers apprehension will help to protect the value of your home during a sale by giving your home more appeal. To learn more about ways to protect your home's value, please reach out to me.
Are there shifts in the market I should look for?
With the Real Estate market changing daily, shifts are always happening. There are a multitude of factors that can effect the market. Predicting what the market will do next can be unrealistic. Yes, general Real Estate market direction can by fairly well understood with the right information. However local and neighborhood markets are much more difficult to predict. Some indicators to watch include inventory levels, average sales price as a percentage of list price, days on market, and price per square foot. These can give a general picture of market conditions, but don't forget that there are many local conditions that can effect your home's value and these are often difficult to quantify without your Real Estate agent's help.
How does a changing Real Estate market effect my home sale?
There have been times when the Real Estate market seemed to change over night. 2009 was a great example of that. In just a few short weeks, the market changed from a strong sellers market to a strong buyers market as the market began to tumble. Generally, one side of the market sees the change first while the other side takes longer to accept that the market has changed. If the market is turning downwards, sellers have the hardest time accepting the change. And with an upward swinging market, Buyers are often late toe the party. The best thing to do is be open to market changes and adjust your strategies accordingly. However, don't over react or let the market control your decisions, better to just include market conditions as one of the many factors that will influence your decisions.
There are many other considerations that can effect your home's value. Please call or email me if you would like to talk more about achieving a better home selling or buying experience.
5950 Stoneridge Drive, Pleasanton, CA 94588
CalBRE License #: 01491373